Warren Buffett names Greg Abel as successor, marking end of an era
Warren Buffett is ending his career as possibly the world’s most recognised and revered investor, saying he will quit as chief executive of Berkshire Hathaway at the end of 2025 and hand over the bridles to Vice Chairman Greg Abel.
Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has officially announced that Greg Abel will take over as chief executive officer by the end of the year, marking the close of Buffett’s remarkable six-decade reign that transformed the company into one of the most influential conglomerates in the world.
“The Time Has Arrived”
Speaking at Berkshire’s annual meeting in Omaha, the 94-year-old Buffett said,
“I think the time has arrived where Greg should become the chief executive officer of the company at year end.”
He added that while he would still “hang around” and offer input when needed, Abel will have the final word on decisions moving forward.
Buffett’s announcement came as a surprise even to most of Berkshire’s board of directors, though he had informed his two children—both board members—ahead of time. The board is set to meet Sunday to discuss the leadership transition in more detail.
Industry Reactions Pour In
The investment world responded with widespread admiration for Buffett, whose legacy is deeply tied to American capitalism.
Jamie Dimon, CEO of JPMorgan Chase, said:
“Warren Buffett represents everything that is good about American capitalism and America itself – investing in the growth of our nation and its businesses with integrity, optimism, and common sense.”
Apple CEO Tim Cook, whose company is a major Berkshire holding, posted:
“There’s never been someone like Warren, and countless people, myself included, have been inspired by his wisdom.”
Greg Abel: The Quiet Successor
Abel, 62, has served as vice chairman of Berkshire Hathaway since 2018 and was publicly named Buffett’s likely successor in 2021. While he lacks Buffett’s celebrity status, Abel is widely respected within the company and is expected to maintain the business culture Buffett so carefully built.
Under Abel’s leadership, Berkshire’s non-insurance operations, including energy, railroads, and utilities, have flourished. His appointment reflects Buffett’s long-stated priority of ensuring continuity rather than reinvention.
As Buffett steps back, the financial world watches to see how the quiet but capable Abel will navigate the post-Buffett era — one defined by discipline, long-term value, and legendary leadership.